Is The Golf Course A Good Place To Talk Real Estate Business? – Jeffrey Varga
On this episode of The Closing Table, we sat down with Jeffrey Varga!
To watch the full episode, check it out on YouTube below. In the meantime, here’s a summary of the conversation…
Here’s what you missed from Jeffrey Varga…
The conversation began with Jeffrey introducing himself outside the realm of real estate. He proudly identifies as a father, having welcomed his first child into the world just seven months ago. He is also a devoted husband, a loving son, and a trusted friend to many. Yet, beyond these roles, he is primarily recognized as a local expert in the field of real estate.
As a seasoned real estate professional, Jeffrey reflects on his journey, spanning over seven years. His path into the industry took an unexpected turn when he crossed paths with a prominent luxury real estate producer. Although he initially hesitated to embrace this new career, having pursued professional golf after college, he soon found himself under the mentorship of this influential figure. His journey toward obtaining a real estate license was swift, and in hindsight, it has proven to be a remarkable adventure.
Jeffrey’s unique approach to his niche in the real estate market draws inspiration from his experience working at Nordstrom, a retailer renowned for its commitment to service. Observing a dearth of client-focused service in the luxury real estate sector, he had a revelation: by genuinely empathizing with his clients and addressing their problems while providing top-notch service, he could build lasting relationships. Astonishingly, he began receiving referrals in his very first year in real estate. He doesn’t confine himself to a specific niche, but his transactions range from a $46,000 property to a $2 million one, built predominantly on his sphere of influence.
Turning his attention to the Pittsburgh area and its economic landscape, Jeffrey finds himself enthused by the burgeoning recognition of the city, often referred to as the “city of bridges.” Post-COVID, Pittsburgh has gained considerable attention as one of the most affordable and underrated cities. Numerous individuals and families have flocked to the area from larger metropolitan centers like New York City and Washington, D.C., drawn by the city’s exceptional dining scene, diverse culture, and expanding suburban communities. Land development is in full swing, mirroring the national trend of limited housing inventory. Jeffrey acknowledges the curiosity about the impact of interest rates on the real estate market but emphasizes the resilience of housing demand and the rapid appreciation of properties. In a broader perspective, Jeffrey highlights the need to consider the full scope of the real estate business, encouraging both consumers and professionals to look beyond narrow viewpoints.
When discussing the key characteristics to consider when choosing a real estate agent – Reputation, Experience, and Communication Style – Jeffrey emphasizes that the evaluation process is not one-size-fits-all. He underscores that his role primarily revolves around service, and it’s his responsibility to understand his client’s unique needs and chart the best path forward. Often, he finds that he ends up conducting more of an interview with potential clients than the other way around. He acknowledges that many consumers may not fully grasp or have the time to invest in the interview process, particularly when dealing with listings, where the primary focus is often commission rates.
Jeffrey recognizes the importance of commission rates in these negotiations but points out that the saying “you get what you pay for” holds true across various fields, including real estate. He doesn’t intend to suggest that agents with lower commissions aren’t excellent or that those charging higher rates are the best. However, he believes that during the communication process, clients often realize that he’s asking essential questions beyond just commission rates. He also acknowledges that not every potential client will become a deal, and the lesson he’s learned is that not every deal is worth pursuing. He reflects on the relief he felt when he once had to fire a buyer who was not genuinely committed to the process.
Shifting the focus to his passion for golf, Jeffrey explains that he’s been an avid golfer for as long as he can remember. In fact, it was on the golf course that he organically met his mentor, who encouraged him to become a real estate agent. He attributes a significant portion, around 25% or more, of his business to the connections he’s made through golf. Spending approximately four hours on the golf course with someone provides a unique opportunity to understand their character, witness how they handle frustration (a common experience in golf), and gain valuable insights into their personality. It’s through these connections on the golf course that he’s built meaningful leads and established valuable connections in the real estate industry.
School districts play a pivotal role for families when it comes to real estate decisions. Jeffrey sheds light on the top-rated school districts in the metro Pittsburgh area and their influence on the local real estate market. He points out that over his seven years in the industry, the rankings of these districts tend to shift, but currently, the top five districts are North Allegheny, Mt. Lebanon, Upper St. Clair, Fox Chapel, and Hampton. These districts consistently command higher price points compared to their neighboring areas. During the COVID-19 pandemic, the area experienced an influx of relocations, and even those unfamiliar with the region often prioritize these top school districts when considering a move. Jeffrey recognizes that as parents, the desire to provide the best for their children drives families to start their search in these coveted school districts.
Conflicts between neighbors or buyers and sellers can be a common occurrence in real estate transactions. Jeffrey recalls a situation where a neighbor approached a client interested in a house before it was on the market, raising concerns about flooding and mold. To address this, Jeffrey contacted the listing agent, who explained that the neighbor was actually interested in purchasing the house and spreading negative information to deter potential buyers. Despite such challenges, Jeffrey’s client went on to purchase the house, but the neighbor continued to disrupt the process by berating the client and the inspector during the inspection. These are examples of the interpersonal conflicts that can arise in the real estate field.
In Jeffrey’s view, the most challenging aspect of the real estate industry is the lack of accountability. With multiple parties involved in a transaction, any failure to fulfill responsibilities can have a cascading impact, affecting everyone involved and, most importantly, the clients. It’s a widespread problem that extends beyond the real estate profession and plagues society as a whole.
The conversation wraps up with Miguel sharing a movie that helped change or shape his perspective personally or professionally. Jeffrey mentions Leave It Better Than You Found It by Bruce Nordstrom, which was given to him during his time at Nordstrom when he was being encouraged to move into a management role. Despite his initial disinterest in climbing the corporate ladder, the book resonated with him. It reinforced his belief in providing exceptional service and leadership. For Jeffrey, the essence of his real estate business lies in leaving his clients in a better position than they were in when they first approached him. He firmly believes that this principle is at the core of his service, aiming to fulfill his clients’ needs and offer the best possible service throughout the real estate process.
Check out Jeffrey Varga:
Instagram: https://www.instagram.com/justaskjeffremaxselect/
Facebook Business Page: https://www.facebook.com/JeffreyVargaRealEstate
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